The Rivers State Executive Council has approved an estimated Appropriation Bill of about N800 billion for the 2024 fiscal year.
Mr Warisinebo Johnson, the Commissioner for Information and Communications, made the disclosure while briefing journalists in Port Harcourt on Monday.
Johnson said that Governor Siminalaye Fubara, presented the budget proposal at the council meeting.
He stated that the Governor said that N412 billion was for capital expenditure and N361 billion for recurrent expenditure while N21 billion would be for reserve.
The commissioner said the bill was christened, ‘’Budget of Renewed Hope, Consolidation and Continuity.”
‘’The 5th State Executive Council meeting also deliberated on the Medium Term Expenditure Framework, which is usually a precursor to discussing the budget.’’
Johnson said that infrastructure, education, health and security took priority in the bill.
Dr. Tammy Danagogo, Secretary to the State Government (SSG), in his remarks, said the budget estimate was aimed at renewing the hope of the people of the state.
According to him, the estimated budget is aimed at giving Rivers people a renewed hope that will guarantee the continual harvest of projects and human capital development.
The approval by the state executive council comes in the wake of the defection of 27 lawmakers out of the 32 members in the House of Assembly earlier in the day.
They all left the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).
The faction led by its Speaker, Mr Martin Amaewhule, announced their defection at the 87th plenary session.
